Basic Information & Regulation
Founded in 2018, UproFX is a Forex and CFD broker operating in Estonia and is a c of Yield Enterprise Currency Software. UproFX is not currently regulated in any way.
Safety Analysis of UproFX
UproFX is an unregulated broker, which means that investors' funds and trading activities on the UproFX platform are not effectively protected compared to those regulated by the FCA in the UK and CySEC in Australia. Therefore, investors should stay away from this UproFX forex broker.
Market Instruments
UproFX offers investors financial instruments in currency pairs, cryptocurrencies, commodities, precious metals, indices, and stocks.
Accounts & Leverage of UproFX
To meet the investment needs and trading experience of different investors, UproFX offers four different types of accounts: Classic (minimum deposit of 250 EUR), Silver, Gold, and Premium. The maximum leverage is 1:100 for the Classic and Silver accounts and 1:200 for the Gold and Premium accounts.
Spreads & Commissions of UproFX
The official UproFX website does not show information about spreads, but after testing demo accounts, it is clear that the fixed spread for EURUSD is 3 pips, which is far from the industry standard.
Trading Platform Available of UproFX
UproFX offers traders a fairly simple online trading platform. This trading platform lacks some of the basic features such as charting tools and market indicators, as well as automated trading moments for options top price runs, which are features that make MT4 trading platforms well known.
Deposit and Withdrawal
UproFX supports traders to withdraw and deposit funds to their accounts via VISA, MasterCard credit/debit cards, wire transfer, NETELLER, Skrill.
Pros & Cons of UproFX
The main advantages of UproFX are:
1. A wide range of trading instruments
2. Four trading accounts to choose from
3. Low minimum deposit
The main disadvantages of UproFX:
1. Not subject to any regulation
2. No MT4 trading platform available
3. Uncompetitive spreads
4. Fewer deposit & withdrawal options
